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The real estate industry is a model of competition that works. In an
economy in which large, national corporations -- such as Wal-Mart and
Microsoft -- dominate the marketplace, real estate stands apart. We
are an industry made up predominantly of small businesses and independent
contractors who represent the entrepreneurial spirit this country was
founded on.

All of us serve localized markets where we compete for business every
day. Fierce competition is fueled largely by the uniquely intense and
personalized nature of the service we provide to our clients -- which,
in turn, determines our future success through referrals and return
business.

Barriers to entry are low. If you are willing to take the time to learn
the business in your local market, pass the state license examination
and adhere to the REALTOR(r) code of ethics, there is nothing to stand
in the way of success in this industry. I had to learn the business
and pass the state licensing examination, but it is my own work ethic,
commitment to professional standards and dedication to client satisfaction
that determine my success. I have taken that ethic now into training
other agents to handle their business in a professional manner. The
training includes the necessity of individual excellence in order to
compete in today's market. It is a jungle out there, and only the best
survive!

Even through the economic downturns our country has experienced in
the past few years, our industry has continued to provide opportunity
-- something I would say is confirmed by the thousands of new agents
that join our profession every year and the over 2 million Americans
who are now licensed to provide professional real estate services in
communities across the country. Every new licensee adds to the competition
among all who are licensed, which, in turn, adds to the public service.

Nothing encourages a competitive business environment more than providing
consumers with choice. In the residential real estate marketplace, consumers
not only are able to choose from more than 76,000 brokerage firms and
more than 1.2 million REALTORS(r), but also from a variety of business
models.

The real estate industry serves the public. Only when the goals of
the individual whom we serve are met, are our own individual agent goals
met. And only by keeping that fact in mind will an individual agent
be successful. Commission rates and broker services react to competition
every second of the day. The industry has been successful in the past,
and will continue to be so in the future, at overseeing our own ethical
behavior and adjusting to what the public believes should be our expected
mode of services. Competition is most decidedly there!